Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 01/18/10

Current level-1.4386

EUR/USD is in a downtrend, after peaking at1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.
  
Current rebound from 1.4335 is corrective in nature and while the pair stays below 1.4450 resistance, the bias will continue to be negative for a break below 1.4260, en route to 1.3740 support on the daily frame.

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Current level - 90.86

The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 89.50 and 93.54.

The negative bias is intact and with a crucial level at 92..04 the pair is ready for the next leg downwards, to 88.90. The intraday outlook is neutral in the 90.60-91.30 range.

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Current level- 1.6325

The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.

Although we saw a spike low to 1.6213, the support area around 1.6240 is still intact and the bias remains positive for 1.6410 reversal area. Crucial on the downside is 1.6270.